How Does HCRA Reduce Taxes?

The Health Care Reimbursement Account can reduce your taxes by reducing your taxable
income. Using this pre-tax account can make a significant difference in your take-home
pay.

Impact of Health Care Reimbursement Account

Calculate how much you will save by participating in HCRA.

An HCRA spending account can save you money by using the pre-tax dollars, but it requires careful planning. Keep in mind that money deducted from your pay and deposited in your Health Care Spending Account must be used during the year for the appropriate expenses. Money left in the account at the end of the plan year will carry over to the next year but it must be used by March 15.